Nov 13, 2020
Buy, Don’t Build A Company- With Serial Entrepreneur Roland Frasier
Are you thinking of selling your business or maybe buying a business to expand your investment portfolio? You can do so on the sidelines coaching the management team with strategy and still scale higher with the businesses
In this episode of the Page One Podcast, Luke Peters speaks with Roland Frasier about company acquisitions strategies and how he manages to be a serial entrepreneur investing in multiple businesses. Roland is co-founder and/or principal of 5 different Inc. Magazine fastest-growing companies. He’s a serial entrepreneur who has grown 24 businesses with adjusted sales ranging from $3 million to under $4 billion. He is the current CEO of All Channels Media, LLC, and principal in Scalable.co, DigitalMarketer.com, Traffic & Conversion Summit, and more.
Listen in to learn the seven major categories you can approach the acquisition of both companies and assets. You will also learn the importance of strategy over technical skills in the success of a business.
Key Takeaways:
- Understanding the system to follow when looking to acquire assets or a company and identifying their existing benefits.
- Understanding why business owners stay after selling control of their businesses and why you should stay after selling the majority of your business.
- Why you need to only be good at strategy and not the technical skills to be successful in business.
- The strategy of buying and selling businesses by not working in or out of them but above them.
- The importance of understanding part of business operations to be a good investor.
Episode Timeline:
- [3:12] Roland describes how he works toward being his own investment banker and private equity firm plus working as a coach to CEO in companies he invests in.
- [5:18] He explains why it is better to buy than start a company to avoid the failure rate that exists while starting a company.
- [7:27] The seven major categories of assets and companies and how to approach each when looking to acquire.
- [12:53] Roland explains the types of businesses he invests in and those he stays away from.
- [17:09] The nine different ways you can run your business passively- handing management over to others.
- [22:21] Why Roland describes strategy as the most important skill that anyone needs to be successful in business.
- [24:08] The strategy that Roland and his partners use by investing in a competent and temporary team to help get a newly acquired company on track before they leave.
- [27:36] The KPIs that Roland and his team look at quarterly through dynamic goals.
- [32:54] Roland explains why he’s not a passive real estate investor or business owner but rather the businesses occupying a portfolio slot in his overall investment portfolio.
Quotes:
- “If I could only pick one skill to have to be successful in business, it would be to be good at strategy because those technical skills are hirable.”- Roland [23:19]